Funding you earn now, next payment 02:00 UTC−0.0372%/8h= −40.8% APRpaid last 24h −0.022%
Price spread now: Orderly against Kraken Futures−0.031%7-day average −0.056% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.031%, 7d avg −0.056%
=The price spread pays, funding is against you. Orderly is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.056%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.103% in total) that is about 41 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.103% in total (about -5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ARBUSD | 0.2213 | 0.0312 | pay 0.0039% / 1h | 26m 10s | $1.1M | $4.7M | 50x |
| Short | Orderly PERP_ARB_USDC | 0.2212 | −0.0060 | pay 0.0060% / 8h | 6h 26m | $13K | $382K | 10x |
Kraken Futures PF_ARBUSD
Orderly PERP_ARB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$78.22
- Price spread: −0.031% → −0.056%
- $2.53
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$91.69
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures live order book, 3 min ago | 10.17 bp | 18.7 bp −$19 | 28.4 bp −$284 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ARB on 35 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1692% | 1h | 0.2203 | −0.438% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0248% | 1h | 0.2211 | −0.062% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0222% | 1h | 0.2212 | −0.040% | $10K | $2.5M | 5x | as long as short |
| Variational Omni ARB | −0.0171% | 8h | 0.2211 | −0.063% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0118% | 8h | 0.2215 | +0.091% | $22.3M | $156.8M | 50x | as long as short |
| MEXC ARB_USDT | −0.0117% | 8h | 0.2215 | +0.105% | $40.0M | $59.7M | 200x | as long as short |
| Gate ARB_USDT | −0.0080% | 8h | 0.2212 | −0.022% | $5.4M | $19.8M | 60x | as long as short |
| Bybit ARBUSDT | −0.0072% | 8h | 0.2214 | +0.073% | $56.7M | $128.9M | 50x | as long as short |
| ApeX Omni ARBUSDT | −0.0069% | 1h | 0.2211 | −0.076% | $119K | $293K | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0066% | 1h | 0.2213 | +0.005% | $24K | $34K | 25x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
SoDEX ARB-USD
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Gate ARB_USDT
Bybit ARBUSDT
ApeX Omni ARBUSDT
Deribit ARB_USDC-PERPETUALShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDCshort | −0.0060% | 8h | 0.2212 | −0.031% | $13K | $382K | 10x | |
| Binance ARBUSDT | −0.0003% | 8h | 0.2215 | +0.084% | $64.6M | $318.0M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2213 | +0.015% | $65K | $5K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2211 | −0.061% | $353K | $2.5M | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0011% | 1h | 0.2213 | +0.033% | $10K | — | 150x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2213 | +0.022% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2212 | −0.017% | $1.2M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | +0.014% | $38.6M | $51.9M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | +0.005% | $659K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2214 | +0.053% | $42K | $186K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2213 | +0.005% | $19.6M | $15.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2215 | +0.105% | $21.3M | $36.3M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2217 | +0.173% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2211 | −0.097% | $40K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2212 | −0.019% | $471K | $3.7M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2213 | −0.004% | $76K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2213 | +0.014% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2217 | +0.173% | $298K | $998K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2212 | −0.031% | $5.0M | $13.1M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2215 | +0.105% | $507K | $2.1M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2213 | +0.035% | $826K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2211 | −0.066% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSDlong | +0.0312% | 1h | 0.2213 | long leg | $1.1M | $4.7M | 50x | |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2214 | +0.046% | $474K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0518% | 1h | 0.2218 | +0.258% | $1.0M | $2.9M | 20x | as long as short |
Binance ARBUSDT
dYdX ARB-USD
Extended ARB-USD
gTrade (Gains Network) ARB/USD
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP